Business briefs: Best Buy names new CFO, may go private

Best Buy said Monday that a former Williams-Sonoma executive will become its new chief financial officer beginning Dec. 10.

It's the latest executive move for the Minneapolis electronics chain company since turnaround expert Hubert Joly joined as CEO in August.

Best Buy is trying to reverse a decline in its business due to a weak global economy and tough competition from online stores and discounters.

Sharon McCollam, 50, had been chief operating officer and chief financial officer at the home goods retailer before retiring. She also takes the title of chief administrative officer at Best Buy.

Meanwhile, Best Buy co-founder and former Chairman Richard Schulze is considering a plan to take the company private.

U.K. parliament grills multinationals

British lawmakers on Monday accused major multinational companies of aggressive tax avoidance, amid calls by the U.K. government for a global crackdown on firms that seek to evade taxes.

Legislators questioned Starbucks, Google and Amazon about the amount they pay to the U.K. government in taxation.

Lawmakers scoffed as Troy Alstead, Starbucks global chief financial officer, claimed that the fact the coffee giant had reported losses for all but one of the 15 years it has operated in the U.K. was down to poor performance - and not an attempt minimize its taxes in Britain.

"You have run the business for 15 years and are losing money and you are carrying on investing here. It just doesn't ring true," said Margaret Hodge, head of parliament's Public Accounts Committee.

New BlackBerry 10 due to launch on Jan. 30

Research In Motion said Monday that it will hold a launch event for its new BlackBerry 10 smartphones on Jan. 30. The new phones are seen as critical to RIM's survival.

The Waterloo, Ontario-based company said Monday that details on the much-delayed smartphones and their availability will be announced at the event.

The announcement comes as the company struggles in North America to hold onto customers who are abandoning BlackBerrys for flashier iPhones and Android phones.

New LED bulbs at Lowe's equivalent of 100 watts

You can now get LED bulbs that roughly match the 100-watters for size and brightness, but use far less energy.

Osram Sylvania, a division of Germany's Siemens AG, said Monday that it's shipping the first batches of its Ultra LED bulb to some Lowe's stores. The bulb uses 20 watts of electricity and costs $50. It's slightly larger than a regular 100-watt bulb, so it may not fit in all fixtures.

Osram claims 25,000 hours of use, or more than 20 times the lifespan of a standard, incandescent bulb.

- Associated Press

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Business briefs: Best Buy names new CFO, may go private

Best Buy said Monday that a former Williams-Sonoma executive will become its new chief financial officer beginning Dec. 10.

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